Associate
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- 1 Jul 2009
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- 728
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- Shropshire/Paris
It’s WAY tougher now. Fierce competition for jobs that are nothing special and house prices in the stratosphere. And on top of all that we now have Brexit..
Our generation ('80s+ babies and onwards)
- Thread starter DAIR
- Start date
No joke! After passing a number of Microsoft exams I paid for myself which cost about 8K over the past 3 years, along with the 16 years experience I have working in IT. I had been applying for jobs since September last year, over 150 jobs! I also paid £300 for my CV to be professionally done before I started applying.
I used all resources out there when applying for jobs and finally last week I was given an offer which I accepted after so many rejections and very few interviews. Funny thing is, I found the role thanks to a fellow member here on the OCUK forums and I got in touch. If it wasn't for them, I still be applying for job, probably hitting 170 by now.
It was easier to find a job in the early 2000's.
We get **** terms and **** prices on everything now. Wages were lower when my Dad was my age, but everything was still relatively much cheaper.
Back in the 60s, 70s, 80s houses weren't 10-15x most people's wages. But OFC now we are over-crowded and demand is sky high.
I think by the time my generation retires there is going to be some kind of revolution tbh. The seeds are there.
Back in the 60s, 70s, 80s houses weren't 10-15x most people's wages. But OFC now we are over-crowded and demand is sky high.
I think by the time my generation retires there is going to be some kind of revolution tbh. The seeds are there.
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We don't get to retire, the pensions are screwed as well
I'm hoping within my lifetime we have realised that the current economic model is broken and we can't just keep churning out rubbish to sell to people who then get bored of it and it ends up in landfill.
At the minute everything just seems to be heading in the wrong direction with the main wealth growth going to the already wealthy. Already been mentioned in this thread but it's the middle class that is feeling the squeeze all around the world from this shift in wealth (don't get me wrong I know the working class is suffering) and once your middle class feels disillusioned things can get "unstable".
We're not overcrowded, but many years of low interest rates and house price growth have made property and land ownership profitable in itself. You don't necessarily even need to let out houses to make money. This means many buildings left empty, and big areas of land that have been granted planning permission are sat on while developers wait for the value to increase.
It's a feedback loop as the more profitable it becomes, the higher the value goes. Increased inflation would solve it, but that's unlikely unless the economy picks up, and we're doing our level best to avoid that right now. Heavier taxation on this sort of behaviour might help as well, but so far the government is only really tinkering around the edges (stamp duty etc..)
Deleted member 651465
Deleted member 651465
People retiring now are likely to have some form of final salary pension. This brings with it a modest lump of cash and a nice retirement fund... in some instances, the ability to retire at 55.
Unfortunately, very few children of the 80s will not have this sort of pension scheme unless they got an apprenticeship or jumped in to public sector roles before businesses "closed the door".
Unfortunately, very few children of the 80s will not have this sort of pension scheme unless they got an apprenticeship or jumped in to public sector roles before businesses "closed the door".
Services and infrastructure have been deliberately squeezed by government policy. I'd not use that as a measure of crowding.
Population today is 18% higher than in was in 1971. In the last 10 years alone the government has cut funding to local councils and most public services by 40% or more. They're still cutting. Which do you think has had the bigger impact?
Even in the public sector everyone (except MPs ofc, who sorted themselves out nicely with huge pensions and big pay rises every year) got screwed over. People on old terms were forced on to the new ones.
Pensions for the military aren't close to what they were either. Little reward for big risks, no wonder they are struggling to recruit now.
They're definitely rich.
Just because they don't drive a flashy car or have lots of spare cash in the bank doesn't make them poor.
Just for comparison if a couple were to buy a 750k home, (lets assume first time buyer with a 75k deposit), they would need a joined income of 180k (~90k ea) and their mortgage repayments alone would be around 2.7-2.8k a month.
Now, only you know your parents, were they earning that sort of money throughout their careers, or would they have been able to afford that house based on todays prices.
Associate
- Joined
- 1 Jul 2009
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- 728
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- Shropshire/Paris
Asset rich.
As opposed to asset poor and earning almost nothing?
Such tyranny these folks sitting in a mountain of gold must feel.
Soldato
- Joined
- 23 May 2006
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- 9,273
I see your point but you have to remember not everyone chooses the postcode lottery.
IF my house was in hull for instance (i use hull as it is a city i know where my Ex comes from) it would be worth probably half what it is worth where i do live. My job is just outside of Cambridge.... Cambridge is not a million miles of london house prices - but without the london weighting in salary - So i moved out of the area and actually live in the cheapest town within 20 miles of my work..... to my family living in the north east and north west however some of em still talk about me as if i am loaded.
which is nuts.... they earn within a gnats whisker what i earn, but their houses cost half of mine..... The only time you can realise the wealth in a property is when you downsize and that is why it is possible to be asset "rich" but still skint.
the costs of every day living are also significantly more down where i live than it was when i was up north. like many things, schools, hostpitals, council services, house / rent prices are just a post code lottery, be we all gotta live somewhere right?
In the 2 years by partner and i saved 13K i think it was for a deposit for my house, house prices had gone up by far more than double that.... i would have been better off paying the nuts interest and getting a 100% mortgage.
How old are you? Not meat to sound confrontational, I am just intrigued if it's and experience based opinion or pulling together some data provided by others and hearsay. I remind you, I had 3 million people who could not get a job when I was starting me career.
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They aren't now either outside the south east and a few cities. Within 5 miles of my house, quick search on right move shows 44 properties for sale at 140K or less, including new builds, 17 for 100K or less and if I extended that to 10 miles there would be 100's. South East is the issue, crazy money for nothing outside of 'London init'. Poor people can't live in the South East, that is a fact. Now I would not want to park my car in half of those I found, but they are homes for people to own and make their own.
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Diamond tops to my mountain too.
And people come clean my house, iron my shirts, wash my cars, mow my lawns and deliver my truffles in air conditioned vans...I mean Rolls Royces.
It's ace honest.
I’ll be fair, I know a lot of people are stuck in their houses with little in the way of earnings vs deb my they likely have lying around.
But it just feels kinda self defeating, in my opinion, for this very same demographic to ignore the plight of people below them. I would love to see a polling done on what people think of relative poverty vs their asset wealth/debt expenditure/earnings to see if I’m wrong, I probably am, but the prevalence of poverty bias in the media is hinting a bit strongly.
But it just feels kinda self defeating, in my opinion, for this very same demographic to ignore the plight of people below them. I would love to see a polling done on what people think of relative poverty vs their asset wealth/debt expenditure/earnings to see if I’m wrong, I probably am, but the prevalence of poverty bias in the media is hinting a bit strongly.
Soldato
- Joined
- 21 Apr 2007
- Posts
- 6,647
I feel this, my pension plan is a couple feet of rope.
Also, I reckon they will raise the retirement age again some point soon....
I think one of the big changes for "millennials" and whatever the next generation is called is that the realistic aspiration of owning your own home is slowly dying. We have a generation that are being told they will not have it as good as their parents, that they may never be able to afford their own home and that retirement will probably suck as well. On top of that we have 24 hour news telling us we are all doomed anyway, however the previous generation had that with the cold war although not a click / tap away.
You might think so what, suck it up buttercup but a generation growing up without aspiration is bad for everyone, bad for productivity, bad for mental health, bad for crime etc etc.
You might think so what, suck it up buttercup but a generation growing up without aspiration is bad for everyone, bad for productivity, bad for mental health, bad for crime etc etc.